BusinessWeek M I N DA N A O CREDIBLE
Volume XIV, No. 141 AS OF 6:00 PM MAY 12, 2023 (THU)
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Briefly Agri grows THE Philippine economy expanded by 6.4 percent in the first quarter of the year, settling within the government's 6 to 7 percent target. In a briefing on Thursday, Philippine Statistics Authority Undersecretary and National Statistician Dennis Mapa said the growth during the quarter, however, eased from the 8 percent gross domestic product (GDP) growth recorded in the same quarter last year. National Economic and D eve l o p m e n t Au t h o r i t y Secretary Arsenio Balisacan said that while the growth figure during the quarter was lower year-on-year, "we need to exercise caution in interpreting this as a slowdown since the previous year’s growth came from a low base."
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By ANTONIO L. COLINA IV MindaNews
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Illegal structures DAVAO City – Nearly 200 makeshift structures atop dikes and under bridges were demolished by the Public Safety and Security OfficeRiver Patrol Monitoring Team (PSSO-RPMT), an official here said Thursday. PSSO head Angel Sumagaysay, said the RPMT, tasked with the monitoring and demolition of illegal structures, noted that the bulk of the knockeddown structures are made of light materials. “Most of these structures are located in Talomo District, at SIR, Davao River, only a few structures remain as almost all the structures have been demolished,” Sumagaysay said in a statement.
Strong public health system DAVAO City – Vice President Sara Z. Duterte underscored Thur sd ay t he need to strengthen the country’s public health system. In her speech at the opening ceremony of the 49th Midyear Convention of the Philippine College of Surgeons here, Duterte cited the country’s journey throughout the pandemic as an eye-opener to put premium priority on public health. “Coming from one of the biggest cities in the country, I have learned that it is necessary to establish satellite offices in various parts of the country to further help our countrymen,” she said, adding that the poor should have wide access to medical services.
LOW INFLATION. Market goers flock to the vegetable section of the Bankerohan Market in Davao City. MindaNews Photo
AVAO City – The c o u n t r y ’s g r o s s domestic product in the first quarter of 2023 stood at 6.4 percent, or 1.9 percent lower than the 8.4 percent reported for the same period last year, according to a report released by the Philippine Statistics Authority (PSA) on Thursday. P S A s a i d t h e re c e nt figure was the lowest GDP after seven quarters when the country showed signs of recovering from the impact of the COVID-19 pandemic in the second quarter of 2021. It said the major sectors largely contributing to the first quarter growth were wholesale and retail trade, repair of motor vehicles and motorcycles at 7.0 percent, financial and insurance activities at 8.8 percent, and other services at 36.5 percent.
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CDO, Bukidnon farmers Inf lation rate in now directly sell corn to SMC BARMM down by 1% FARMERS in Cagayan de Oro city and Bukidnon province are among the 13 areas in the country to become direct sellers for a giant food company. In a statement Tuesday, the San Miguel Corporation (SMC), through its nutrition division San Miguel Foods (SMF), bared they have been directly buying from the two areas since 2020. Since then, SMF said it has accumulated 1.3 million metric tons of corn amounting to P23.9 billion from the farmers. SMC president and
chief executive Ramon S. Ang said buying directly from this city, Bukidnon province, and 11 other areas was part of its corporate project to help local farmers. "We are assured of local corn supply for our food business while our local farmers are guaranteed a steady market and fair prices for their crops. Buying directly from them boosts their income and keeps their livelihood,” he was quoted in the statement as saying. At the height of the pandemic in 2020, SMF
purchas e d over 500,000 metric tons or 500 million kilos of corn to help farmers in various provinces affected by quarantine protocols and supply chain disruptions that saw their produce going to waste. In Sumilao, Bukidnon, SMC has provided over P2 million worth of scholarships to underprivileged youth in partnership with Gawad Kalinga’s School for Experiential and Entrepreneurial D e v e l o p m e n t . F a r m e r
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By FERDINANDH B. CABRERA MindaNews
COTABATO City — Inflation rate in t he B angs amoro Autonomous Region in Muslim Mindanao decreased from 7.8% in March to 6.7% in April, the Philippine Statistics Authority (PSA-BARMM) said in a report released Wednesday. “At s ome p oi nt , t h is deceleration of the inflation rate in BARMM can be considered as one of the indicators that the region’s economy is going stable,” Engr. Akan Tula, PSA-
BARMM Officer-in-Charge Regional Director, said. Tula said that among the factors contributing to the lower inflation rate in the region were the reduced costs of food and non-alcoholic beverages, transport, housing, water, electricity, gas, and other fuels. BARMM ranked fifth among the regions outside the National Capital Region in terms of decrease in inflation rate for April 2023.But its inflation for the same month
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Suspect nabbed, P3.9-M smuggled cigarettes seized DAVAO City — Former Z A M B O AGovernor N G A CMiguel ity – Sarangani Authorities arrested a suspect Rene Alcantara Dominguez and seized million has joined over the P3.9 60-year-old worth of Development smuggled cigarettes Alsons and in an anti-smuggling operation Investment Corporation here on Wednesday. Col. (Alsons Dev) as its new Alexanderwho Lorenzo, police director willcity oversee director, said Mhadzmar the business strategy and Tantung was arrested by police operations of the premier operatives around 9 a.m. in property developer and real Barangay Maasin. Tantung, estate pioneer in Davao City. 38, was arrested while in Alsons Dev is the real estate the act of unloading the
contraband in front of the house of a certain Hadji Amir in the same village, Lorenzo said. Lorenzo said Tantung yielded some 113 master cases of smuggled cigarettes worth P3.955 million. The confiscated smuggled cigarettes were turned over to the Bureau of Customs (BOC) while Tantung was placed under the custody of t he p olice’s R eg iona l
Special Operations Group-9 (Zamboanga Peninsula) for further investigation and filing of appropriate charges. The confiscation of smuggled cigarettes was the second for the month in this city. On May 5, joint police and BOC operatives also arrested two suspects and seized P4.4 million worth of smuggled cigarettes in the waters of coastal Recodo village. (PNA)
WEEKEND DESTINATION. Children ride bicycles inside Magsaysay Park in Davao City. The park, which had been closed in the last two years due to pandemic, is now open to the public. MindaNews photo
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